The December 31, 2024, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the companys year-end reporting date.

Account Title	Debits	Credits
Cash	$ 77,610
Accounts receivable	20,750
Prepaid rent	2,200
Inventory	31,250
Equipment	54,000
Accumulated depreciation		$ 16,200
Accounts payable		21,000
Salaries payable		0
Common stock		100,000
Retained earnings		11,500
Sales revenue		343,000
Cost of goods sold	205,800
Salaries expense	68,600
Rent expense	13,200
Depreciation expense	0
Utilities expense	13,720
Advertising expense	4,570
Totals	$ 491,700	$ 491,700

The following year-end adjusting entries are required:

1. Depreciation expense for the year on the equipment is $5,400.
2. Salaries at year-end should be accrued in the amount of $4,520.